In 2024, the domestic art auction market recorded its lowest sales volume in the past five years, reflecting an overall downturn.
However, artworks priced under 5 million KRW accounted for 65.4% of total sales, indicating a growing trend in public art consumption.
Notably, 48% of art buyers purchased their pieces at art fairs, highlighting the increasing influence of these events.
Seoul Auction led the auction market with a total sales volume of 47.98 billion KRW, with the highest-selling artwork being 3-Ⅴ-71 #203 by Kim Whanki.
The art market is expected to rebound in 2025, driven by rising interest in emerging artists and increased public engagement in art consumption.
Sayart / Nao Yim, yimnao@naver.com
